Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) Stake Reduced by FengHe Fund Management Pte. Ltd.

Key Points

• FengHe Fund Management Pte. Ltd. has reduced its stake in Taiwan Semiconductor Manufacturing Company by 67%, now holding approximately 147,600 shares, valued at about $24.5 million.
• Despite the reduction in holdings by FengHe, other investors like Brighton Jones LLC and CreativeOne Wealth LLC have increased their positions in the company significantly during the last quarter.
• Recent earnings results showed Taiwan Semiconductor Manufacturing surpassing expectations with $2.47 earnings per share and a revenue of $30.07 billion, leading to analysts maintaining a consensus rating of "Moderate Buy."

FengHe Fund Management Pte. Ltd. decreased its position in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 67.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 147,600 shares of the semiconductor company's stock after selling 299,500 shares during the quarter. Taiwan Semiconductor Manufacturing makes up 9.2% of FengHe Fund Management Pte. Ltd.'s holdings, making the stock its 3rd largest holding. FengHe Fund Management Pte. Ltd.'s holdings in Taiwan Semiconductor Manufacturing were worth $24,502,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. City Holding Co. boosted its position in Taiwan Semiconductor Manufacturing by 238.0% during the first quarter. City Holding Co. now owns 169 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 119 shares in the last quarter. Accredited Wealth Management LLC purchased a new stake in Taiwan Semiconductor Manufacturing in the fourth quarter valued at about $31,000. Signature Resources Capital Management LLC raised its stake in Taiwan Semiconductor Manufacturing by 138.8% in the first quarter. Signature Resources Capital Management LLC now owns 191 shares of the semiconductor company's stock valued at $32,000 after buying an additional 111 shares during the last quarter. Graybill Wealth Management LTD. purchased a new stake in Taiwan Semiconductor Manufacturing in the first quarter valued at about $33,000. Finally, Vision Financial Markets LLC purchased a new stake in Taiwan Semiconductor Manufacturing in the first quarter valued at about $33,000. Institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Price Performance

Shares of NYSE:TSM traded down $2.78 during trading on Wednesday, reaching $241.51. The stock had a trading volume of 7,961,236 shares, compared to its average volume of 11,997,785. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.15 and a current ratio of 2.37. The business has a fifty day moving average price of $229.05 and a 200-day moving average price of $197.31. The stock has a market cap of $1.25 trillion, a PE ratio of 27.54, a PEG ratio of 1.18 and a beta of 1.19. Taiwan Semiconductor Manufacturing Company Ltd. has a 1-year low of $134.25 and a 1-year high of $248.28.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.13 by $0.34. Taiwan Semiconductor Manufacturing had a return on equity of 32.87% and a net margin of 42.91%. The firm had revenue of $30.07 billion for the quarter, compared to analyst estimates of $28.50 billion. During the same period in the previous year, the company posted $1.48 earnings per share. The business's revenue was up 44.4% on a year-over-year basis. On average, equities analysts forecast that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be given a dividend of $0.6499 per share. The ex-dividend date is Tuesday, September 16th. This represents a $2.60 dividend on an annualized basis and a yield of 1.1%. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is presently 28.16%.

Analyst Upgrades and Downgrades

A number of research firms have commented on TSM. Needham & Company LLC reiterated a "buy" rating and issued a $270.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, July 17th. Susquehanna increased their price target on Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the company a "positive" rating in a research note on Monday, July 14th. Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Finally, Barclays reiterated an "overweight" rating and issued a $240.00 price target (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 3rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $258.33.

Taiwan Semiconductor Manufacturing Company Profile

Taiwan Semiconductor Manufacturing Company Limited, together with its subsidiaries, manufactures, packages, tests, and sells integrated circuits and other semiconductor devices in Taiwan, China, Europe, the Middle East, Africa, Japan, the United States, and internationally. It provides a range of wafer fabrication processes, including processes to manufacture complementary metal- oxide-semiconductor (CMOS) logic, mixed-signal, radio frequency, embedded memory, bipolar CMOS mixed-signal, and others.